Behind the Solana Coin Issuance Boom: Analyzing the Success Strategies of Metaplex, Raydium, and Axiom

Recently, the competition among token issuance platforms in the Solana ecosystem has intensified, attracting widespread attention from the market. In this fierce competition, some participants have quietly become invisible winners. This article will analyze three companies: Metaplex, Raydium, and Axiom, revealing how they have gained an advantage in this battle.

Raydium: Leverage SDK Strategies to Expand Influence

Raydium quickly responded to market changes by launching the LaunchLab token issuance platform and expanded multiple similar platforms through SDK cooperation strategies. Among them, the explosive growth of LetsBONK has become a key driving force for LaunchLab in the competition of the Solana launch platform.

According to the data, as of July 9, the LaunchLab SDK contributed nearly 58.3% of the token creation volume on the Solana Launchpad, with LetsBONK accounting for as much as 97.5%. In terms of trading volume, the LaunchLab SDK accounted for 65.2% of the total trading volume, with LetsBONK contributing an impressive 99.7% of the trading volume.

Although LaunchLab SDK only accounts for 9.2% of the market value, its growth rate is remarkable, having increased by approximately 353.2% over the past month. In terms of platform revenue, LaunchLab SDK contributed 72% of the share, with LetsBONK accounting for as much as 79.8%.

These data indicate that driven by LetsBONK, Raydium LaunchLab has surpassed competitors on multiple core metrics, significantly enhancing its position in the Solana MEME ecosystem. Notably, Raydium LaunchLab allocates 25% of transaction fees to repurchase RAY tokens, further enhancing the value of its ecosystem.

Metaplex: Earn Continuous Revenue as Infrastructure

Metaplex, as a core open-source protocol on Solana, provides developers, creators, and enterprises with comprehensive decentralized application building tools and standards. In the wave of token issuance, Metaplex has become one of the biggest beneficiaries.

In the first half of this year, Metaplex's main source of revenue came from new assets created through its protocol. Several well-known platforms such as Pump.Fun, Raydium, LetsBONK, etc. have created tokens using the Metaplex standard.

According to the data, as of July 10, Metaplex's total revenue reached $35.82 million, generating approximately $13.57 million in revenue in the first half of 2023 alone. In June, the number of tokens created through Metaplex exceeded 1 million, resulting in about $1.7 million in protocol fees.

Metaplex charges a certain percentage of protocol fees from all newly created tokens and NFTs, of which 50% is used to buy back $MPLX and inject into the Metaplex DAO. In the first half of this year, Metaplex has cumulatively bought back 38.5 million $MPLX tokens, accounting for 3.9% of the total supply. This model not only brings stable income to Metaplex but also enhances the long-term value of its ecosystem.

Axiom: A Leader in the Field of Trading Robots

While competing on token issuance platforms, trading robots represented by Axiom are gradually becoming an important force in the market. These efficient user entry points not only optimize the trading experience but also become the core competition point for various launch platforms in their battle for traffic and users.

Data shows that Axiom has maintained a leading position in the trading automation and Bot tools platform for a long time. On July 9th, Axiom contributed 69.6% of the total trading volume of trading bots for the day, demonstrating strong market penetration.

Axiom has deepened cooperation with multiple launch platforms, becoming an important traffic entry point. On platforms like Pump.fun, LetsBONK, and Believe, Axiom's trading volume accounts for over 60%, significantly boosting the trading activity of these platforms.

In the Solana blockchain trading robot market, Axiom also performs exceptionally well. As of July 7, Axiom accounted for 72% of the total trading volume, with an average transaction amount of about 2293 dollars, far exceeding its competitors. On that day, the number of active users exceeded 17,000, and the market share reached 49.1%.

Since its launch in January this year, Axiom has accumulated revenue of over $160 million, with an average daily revenue of about $1.7 million. The number of active users is close to 287,000, reflecting its market recognition and user growth potential.

In summary, during the Solana token issuance boom, Metaplex, Raydium, and Axiom have successfully gained an advantage in this competition through their unique strategies and strengths, earning substantial profits and market positions for themselves.